The US Treasury Department has included four Cyprus-based companies in its latest list of sanctions published on Tuesday, December 12.
The companies have been sanctioned due to their alleged involvement in assisting Russia’s defence industry and facilitating the transfer of weapons used against Ukraine.
The list compiled by the US Treasury Department’s Office of Foreign Assets Control (OFAC) includes the following Cyprus-related companies, among a total of 278 individuals and entities:
- Azia Shipping Holdings Limited
- Fortiana Holdings Limited
- Bex Shipping Inc
- Stanmix Holding Limited
Ilya Borisovich Brodskiy, a Russian citizen with a Cypriot passport, was also sanctioned.
“US and Cypriot efforts to hold sanction evaders to account continue,” US Ambassador in Cyprus Julie Fisher commented on X, following the announcement of the sanctions.
🇺🇸 is designating 278 individuals & entities aiding Russia’s defense industrial base & facilitating arms transfers used against 🇺🇦. This includes 4 companies & 2 individuals with a Cyprus nexus. 🇺🇸 & 🇨🇾 efforts to hold sanction evaders to account continue. https://t.co/wuq34ms025
— Julie Fisher (@USAmbCy) December 12, 2023
Last week, OFAC sanctioned another four Cypriot companies on its sanctions list, citing direct or indirect ties to serving Kremlin interests.
Those were Eriner Limited, The Mother Ark Ltd, Lar Vorto Services Limited, and Ahetei Limited.
All four companies are linked to Belgian entrepreneur Hans De Geetere, who has also faced sanctions.
According to U.S. authorities, De Geetere and his network attempted, in some instances, to dispatch electronic equipment to Russia through Hong Kong, China, and Turkey.
This equipment appears to have been used for military purposes by Russia, specifically identified in Russian unmanned aircraft used in the invasion of Ukraine.
